7.^ 


LIVERPOOL  AND  CHARLESTON 


fSTE^JMlSIilPB, 


PROCEEDINGS  OF  A  MEETING 


HKI.U    AT    THE 


HALL  OF  THE  BANK  OF  CHARLESTON, 
February    22,  1861. 


CHAELESTOiN  : 

STKAM-POWKR     PRESSES     OF     EVANS     A     COGSWELL. 
No.  3  BroBd  and  103  East  Bay  StiMt. 

1861. 


THE 

WILLIAM  R.  PERKINS 

LIBRARY 

OF 
DUKE  UNIVERSITY 


LIVERPOOL  AND  CHARLESTON 


PROCEEDTXGS  OF  A  MEETING 


HELD    AT     THE 


HALL  OF  THE  BANK  OF  CHARLESTON. 


February   22,  1861. 


CHARLESTON  : 

feTKAM-rOVER     PRESSES     OF     EVAXS     *     COOSWELI 
Xo.  3  BrnaO  anH  lor,  Eut  lUy  t>tre«t. 

1861. 


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littp://www.arcliive.org/details/liverpoolcliarlesOOIive 


J'ii'crpflol  aiu!  (EhnrlcHion  ^Steamshijj.'i. 


PROCEEDINGS  OF  A    MEETIX(i    IIET-D    AT    THE    HALL    <)F  THE  HANK 
OF    CHARLESTON.  22d    FEHlirARY,   IKfil. 


The  meeting  was  organized  by  calling  G.  M.  Coffin, 
Esq.,  to  the  chair.  Mr.  Coffin  explained  the  object  of  the 
meeting  to  be  the  adoption  of  snch  measures  as  will  secure 
the  establishment  of  a  direct  line  of  Steamships  between 
Charleston  and  Liverpool. 

Proposals  of  a  very  favorable  nature  had  been  made  to 
some  of  our  prominent  citizens,  who,  upon  consultation, 
referred  them  to  a  Committee  of  persons  of  experience  to 
examine  carefullv.  This  Committee  was  now  ready  to 
report. 

Mr.  Mure,  on  behalf  of  the  Committee,  then  read  their 
report  as  follows  : 

The  Committee,  appointed  to  consider  the  proposals 
submitted  by  Mr.  Barry,  on  behalf  of  persons  in  England, 
with  a  view  to  the  establishment  of  a  line  of  Steamships 
between  Liverpool  and  Charleston,  beg  respectfully  to 

REPORT : 

1.  That,  in  common  with  the  whole  community,  they 
recognize  the  necessity  of  a  Steamship  line  to  Europe,  as 
a  means  of  preserving  the  Commercial  importance  of 
Charleston. 

2.  That  upon  a  careful  investigation  into  all  the  details 
of  expenditure,  and  a  moderate  estimate  of  the  probable 
earnings  of  boats  well  adapted  to  this  trade,  they  are  tirmly 
persuaded  that  such  a  line  of  Steamers,  judiciously  man- 
aged, would  pay  handsome  profits  to  the  Stockholders, 


3.  That  the  proposals  submitted  by  Mr.  Barry  are,  in 
brief,  as  follow  : 

1.  The  parties  v/liom  he  represents,  Mr.  A.  M.  Weir,  a 
very  respectable  gentleniau  of  London,  already  largely 
interested  in  Steamships  ;  and  Messrs.  Laird  k  Co.,  whose 
reputation  as  builders  of  iron  steamers  is  unrivalled  ;  will 
agree  to  raise  in  Great  Britain  one-half  the  capital  requi- 
site for  this  enterprise,  if  the  remainder  can  be  raised  here. 
The  proposed  capital  is  £150,000,  or  nearly  $750,000. 

2.  A  Joint  Stock  Company  is  to  be  formed  in  England, 
under  the  Limited  Liability  Act,  in  which  the  Charleston 
shareholders  will  be  on  the  same  footing  with  all  others. 

8.  The  Company,  once  formed,  is  to  build  three  iron 
screw-propellers,  and  to  place  them  in  a  regular  line  be- 
tween Liverpool  and  Charleston. 

4.  The  steamers  are  to  be  built  by  Messrs.  Laird  &  Co., 
with  special  view  to  the  peculiar  necessities  of  our  port  and 
its  commerce. 

In  the  preliminary  specifications  it  is  stated,  that  steamers 
of  1,800  tons  measurement,  capacity  4,000  bales  cotton, 
(taking  the  bale  at  440lbs.,)  and  with  engines  of  250  horse 
power,  will  cost  X47,000  each.  (The  horse-power  is  nom- 
inal under  the  admii-alty  rule.  The  effective  capacity  of 
the  engines  so  rated  is  about  600  horse  powei'.) 

These  proposals  seem  to  the  Committee  to  be  made  in 
good  faith  ;  they  certainly  emanate  from  parties  entitled  to 
the  utmost  confidence. 

The  means  of  information  possessed  by  those  with  whom 
the  measure  originated,  is  such,  that  their  willingness  to 
take  half  the  risk  should  convince  us  of  the  intrinsic  merits 
of  the  enterprise. 

The  proposals  are  extremely  advantageous  to  us;  inas- 
much, as  if  we  avail  ourselves  of  them,  we  secure  all  the 
advantages  of  the  line  to  the  commerce  of  the  port,  while 
we  bear  but  half  the  cost. 

It  is  also  but  too  certain  that  if, '  with  our  profound  con- 
viction of  the  importance  of  steam  communication  with 
Europe,  at  a  moment  when  that  importance  assumes  the 
proportions  of  a  vital  necessity,  we  decline  to  seize  such  an 


occasion  of  establishing  a  line,  not  only  will  foreigners 
undervalue  the  honesty  of  our  declarations,  but  we  shall 
lose  so  much  consideration  in  our  own  eyes  and  those  of 
our  neighbors;  that  similar  projects  will  hereafter  seek 
other  communities,  and  we  shall  be  left  in  the  repose  of 
an  inglorious  inactivity,  forgotten  and  contemned.  On  the 
other  hand,  a  prompt  and  vigorous  prosecution  of  this 
enterjtrise  to  a  successful  termination,  will  not  only  accom- 
|»lish  the  immediate  end  in  view,  but  will  invigorate  the 
commercial  energies  of  our  people  and  establish  a  prestige 
in  their  favor,  which  will  be  of  no  little  consequence  in  the 
future  now  opening  upon  the  South. 

Your  Committee  would  therefore  propose, 
That  a  Committee  of  twelve  be  appointed  by  this  meet- 
ing, to  make  a  subscription  list,  and  solicit  subscriptions  to 
the  enterprise  upon  such  conditions  as  will  agree  with  the 
pro]iosals  submitted  bv  Mr.  Barry. 

M.  BERRY,   Chairman, 
ROBT.  MURE, 
FRED'K  RICHARDS, 
GEO.  S.  CAMEROX, 
W.   L.  TREXHOLM. 
On  motion,  it  was 

Bcsolird,  That  the   Chairman  of  the  meeting  should  be 
ex  officio  Chairman  of  the  Committee. 

The  following  gentlemen  compose  the  Committee  under 
the  above  resolution : 

Geo.  M.  Coffin,  Esq.,  Chairman, 
Theodore  D.  "Wagxer,  Esq., 
William  McBurney,  Esq., 
William  C.  Bee,  Esq., 
William  C.  Courtney,  Esq., 
William  M.  Sage,  Esq., 
RoBT.  Mure,  Esq., 
Francis  J.  Porcher,  Esq., 
Fred'k  Richards,  Esq. 
Henry  Gourdin,  Esq., 
William  Lebby,  Esq., 
J.  Clough  Farrar,  Esq., 


T^  T?  o  s  T>  f:  c  t  i^  s 

OF    TIIK 

LIVEEPOOL  AND  CHARLP]STON 
Steamsliip    Corapaiay, 

(limited) 
OF    LIA^ERPOOL. 

INCORPORATED    U:>^DER    THE    JOINT    STOCK    COMPANIE:^'    ACT. 

CAPITAL,    £160,000. 

In    15,000   Sliares,  of  XIO  oach,  with   power  to  increase. 


This  Company  is  proposed  to  be  formed  for  the  purpose  of 
establishing  a  direct  line  of  Steamers  between  Liverpool  and 
Charleston,  Avith  power  to  call  at  an  Irish  port  for  passengers. 

It  is  designed  to  build  three  iron  screw-propellers,  specially 
adapted  to  this  particular  trade,  and  affording  the  highest 
degree  of  comfort  and  convenience  to  the  travelling  public. 

Negotiations  have  been  commenced  with  JMessrs.  John 
Laird,  Sons  &  Co.,  for  the  construction  of  such  Steamers,  each 
of  which  it  is  contemplated  will  be  of  about  1,800  tons,  builders' 
measurement,  with  a  pair  of  engines  of  250  hoi'se  power  (collect- 
ive), costing  about  £47,000.  It  will  be  expressly  stipulated 
that  these  vessels  shall  be  of  sufficiently  light  draught  of  water, 
with  capacity  to  cai-ry  about  4,000  bales  of  Cotton,  and  with 
suitable  accommodations  for  first  and  second  class  passengers. 


A  careful  estimate  has  been  made  of  the  probable  expenses  and 
earnings  of  the  proposed  line,  based  upon  accurate  and  reliable 
data  obtained  in  Great  Britain,  from  which  it  appears  that 
there  is  every  reasonable  prospect  of  the  stock  being-  a  highly 
remunerative  investment. 

This  estimate  has  been  examined  by  persons  possessing  a 
practical  knowledge  of  the  commerce  of  Charleston,  and  lias 
obtained  their  unqualified  approbation. 

Parties  of  high  resjjectability  in  Great  Britain  ha\-c  under- 
taken to  raise  half  the  pro})osed  capital,  ])rovided  the  rest  can 
be  obtained  here.  Paynient  for  the  stock  will  be  required  in 
five  equal  instalments,  at  intervals  of  not  less  than  two  months- 
First  j>aymenl  to  the  buildei's  will  be  made  when  the  contract 
is  signed. 

The  articles  of  association  will  be  drawn  u)»  in  such  a  man- 
ner as  to  secure  to  tlie  stockholders  in  this  country,  equal  priv- 
ileges with  all  others,  and  will  be  subject  to  the  approval  of 
such  ])ersons  in  England  as  they  may  designate.  The  Compa- 
jiy  will  be  registered  untler  the  Liniited  Liability  Act,  which 
protects  the  shareholder  from  any  liability  beyond  the  amount 
invested. 


